After surviving all bids at privatisation, Air India and Indian, the two merging state-run carriers, are bidding to buy controlling stakes in Jat Airways, Serbia’s national airline.
This is the first time in its history that Air India is looking at buying another airline , let alone an international flagship. The only other contender for acquiring Jat Airways—formerly called Yugoslav Airlines—is Russia’s national carrier Aeroflot, which has already made a competitive bid for the offer.
Thursday, May 31, 2007
Amtek Auto close to $40 mn deal
Auto parts maker Amtek Auto Ltd is close to buying an aluminium foundry in the UK from J L French Automotive Castings for an enterprise value of about $40 million. (From ET)
Kingfisher acquires 26% in Air Deccan
Update:United Breweries Holdings has picked up a 26 per cent stake and it would make an open offer to acquire a minimum of 20 per cent to all shareholders of Air Deccan at a price of Rs 155 in compliance with Sebi regulations next week UB Holdings has made an initial investment of Rs 150 crore in Deccan Aviation and a further investment of Rs 396 crore would be made by this month-end for 26 per cent stake.
With this acquisition, the Kingfisher-Air Deccan group will become the largest domestic airline with a fleet of 71 aircraft -- 41 Airbus and 30 ATR aircraft.
The combined entity will cover all segments of air travel from low to premium fares and offer maximum number of 537 daily flights covering the single largest network in India covering 69 cities, taking advantage unparalled synergy benefits from a common fleet of aircraft
(Source: ET)
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Vijay Mallya, the flamboyant and aggressive king of spirits, is believed to be buying Air Deccan, India’s leading low-cost airline, in a move that would make him the country’s biggest aviation player by marketshare. Air Deccan will retain its low-cost status while Kingfisher will run as a full-service airline. Captain GR Gopinath, CEO of Air Deccan, flatly denied any deal was in the offing with Kingfisher.
Markets have given a thums up for the deal. Deccan, operator of India's biggest low-fare airline, gained as much as 7.6 per cent and Mallya's United Breweries Holdings rose 8.5 per cent.
With this acquisition, the Kingfisher-Air Deccan group will become the largest domestic airline with a fleet of 71 aircraft -- 41 Airbus and 30 ATR aircraft.
The combined entity will cover all segments of air travel from low to premium fares and offer maximum number of 537 daily flights covering the single largest network in India covering 69 cities, taking advantage unparalled synergy benefits from a common fleet of aircraft
(Source: ET)
----
Vijay Mallya, the flamboyant and aggressive king of spirits, is believed to be buying Air Deccan, India’s leading low-cost airline, in a move that would make him the country’s biggest aviation player by marketshare. Air Deccan will retain its low-cost status while Kingfisher will run as a full-service airline. Captain GR Gopinath, CEO of Air Deccan, flatly denied any deal was in the offing with Kingfisher.
Markets have given a thums up for the deal. Deccan, operator of India's biggest low-fare airline, gained as much as 7.6 per cent and Mallya's United Breweries Holdings rose 8.5 per cent.
India Equity Partners Buys APIDC VC's Stake In Ocean Sparkle
Private equity fund India Equity Partners (IEP) has picked up an undisclosed stake in Ocean Sparkle lTD, a Hyderabad-based port management company, for $18 million, reports The Economic Times. IEP has bought the stake held by APIDC Venture Capital in the company, which, according to ET, is probably at a valuation of $100 million. The founders of the company had the first right of refusal to buy the stake from APIDC Venture Capital, but did not exercise the right since the valuation was "high".
Contributor: Amit Sharda
Contributor: Amit Sharda
IFC To Invest In Aloe Environment Fund And Samara Capital
International Finance Corporation(IFC), the multilateral investment arm of the World Bank, has decided to invest in two India focussed private equity funds - Aloe Environment Fund 2 (Aloe 2) and Samara Capital Partners Fund I Ltd (Samara Capital).
IFC has proposed to invest €15 million ($20 million) in Aloe & up to $10 million in Samara.
Contributor: Amit Sharda
IFC has proposed to invest €15 million ($20 million) in Aloe & up to $10 million in Samara.
Contributor: Amit Sharda
Wednesday, May 30, 2007
Yes Bank launches $100 mln private equity fund
Yes Bank has launched a $100 million private equity fund to invest in food and agriculture sectors. The Food and Agribusiness India Fund plans to invest its entire amount in 1-2 years, earmarking $5-7.5 million per company and expects an average annual return of 20-25 percent.
Best Buy in talks with Vivek to enter India
Best Buy, the larget US consumer electronics retailer in US appears to be setting its sights on India.
A top level delegation from Best Buy was recently in India to meet senior representatives from leading consumer electronic firms like LG, Samsung, Haier and Sony to gain first hand knowledge of the Indian market.
The buzz suggests that Best Buy may enter into a partnership with Vivek Ltd to enter India. Vivels is the largest consumer electronics and home appliances retial chains in the country with more than 52 stores.
A top level delegation from Best Buy was recently in India to meet senior representatives from leading consumer electronic firms like LG, Samsung, Haier and Sony to gain first hand knowledge of the Indian market.
The buzz suggests that Best Buy may enter into a partnership with Vivek Ltd to enter India. Vivels is the largest consumer electronics and home appliances retial chains in the country with more than 52 stores.
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